BAKU, Azerbaijan, March 4. Kazakhstan allocated around 894.9 billion Kazakh tenge ($2.07 billion) to the citizens in the framework of the state mortgage program aimed at improving the living conditions of the citizens, known as “7-20-25”, since its inception, Trend reports, citing the National Bank of Kazakhstan.
The total number of mortgage loans issued in the framework of the program reached 66,685.
The National Bank provided information indicating that the highest number of loans issued were recorded in Astana, with 23,770. The overall value of loans issued there amounted to 370.7 billion Kazakh tenge ($859.7 million).
Almaty was a distant second with 13,285 loans issued and the overall value of the loans reached 203.7 billion Kazakh tenge ($472.4 million).
Meanwhile, 62.1 billion Kazakh tenge ($144 million) were allocated in Shymkent. Some 5,109 mortgage loans were issued here in the framework of the programs.
The program is aimed at improving the living conditions of Kazakh citizens by providing opportunities for purchasing real estate with accessible loan terms.
In December 2022, the government announced that the “7-20-25” program will be continued due to its popularity among the citizens.